Growing appetite for chips pushes Mobileye sales up 65%

Automated driving is no longer simply a concept, and is proving to be a highly profitable market. In particular, Jerusalem-headquartered Mobileye has been on a significant growth trend of late. Off the back of a 68% year-on-year growth in 2015 revenue, Q1 2016 sales leapt 65% from the prior year. The company is guiding for around 40% growth in 2016 sales, with the target of achieving US$1.1bn revenue by 2019.